The committee also voted unanimously to maintain its quantitative easing policies at their current levels.

It repeated previous notices that will look to tighten monetary policy to return inflation to its 2% target.

However, the MPC warned that this policy could be influenced significantly by how households, businesses and financial markets respond to Brexit, particularly if it is not a smooth transition.

Borrowers continue to benefit from near-record low rates

Kevin Roberts, Legal & General Mortgage Club director, said that with a rise in the base rate last month, it is hardly surprising that the Bank of England decided to keep rates at their current level this month.

He added: “This will be welcomed by borrowers, who continue to benefit from near-record low rates and a mortgage market that is delivering a growing number of innovative solutions for customers.

“However, the low-interest rate era won’t last forever and customers coming to the end of their mortgage term would be prudent to consider locking into a new fixed rate now, to take advantage of some of the great deals that remain on the market.”

Bluestone Mortgages director of sales and marketing Steve Seal said that with the previous interest rate rise still fresh in consumers’ minds and living costs on the rise, many borrowers will be relieved by today’s decision to hold the base rate.

NEWSLETTER SIGN UP

For just two more minutes of your time, you can register for premium access

Specialist lending newsletters

Access to exclusive content

Priority event notifications

Business information tailored specifically to your business needs

Engage in interactive commenting and voting in our weekly polls

Specialist Lending Newsletter

You may also be interested in the Specialist Lending Solutions newsletter. All the latest news, analysis and insight from the mainstream residential lending market. Including industry news, adviser business strategy tips and market commentary.

Email address

First name

Surname

Postcode

By submitting your details, you are agreeing to AE3 Media’s privacy and data policy
The data controller is AE3 Media Ltd. We will use your data for the purposes of sending you newsletters from Mortgage Solutions and any other relevant information from Mortgage Solutions such as events, research, feedback, and surveys. You can view the full details by visiting the privacy policy

LOGIN

please sign-in using your email and password

Success....

Please enter your email address and we will email you a link where you can change your password.

Premium access

Register to gain access to MortgageSolutions.co.uk for the latest news analysis, interactive comment, industry video and features, all at your finger tips. Vote in our polls, get your opinion across on the news and watch out for our weekly editorial round-up features.

Delegate places are free of charge, subject to approval by the organisers based on job criteria

Registered delegates have access to the seminars where applicable. You will be given an identification badge, which must be shown upon request.

Once you have registered and your application has been accepted, then you are expected to attend. If you are subsequently unable to attend, please make sure your notice of cancellation is sent at least three weeks prior to the date of the event.

All cancellations must be received in writing. You will receive confirmation of your cancellation. Suitably qualified replacements may be sent if you are unable to attend; however, the organisers must approve them before the event takes place.

Should you be unable to attend, a substitute delegate is always welcome, subject to confirmation by the organisers and on receipt of the change in writing.

AE3 Media reserves the right to change the programme, speakers, dates or venue at any time, without notice. Should for any reason the venue or speakers change, or the event be cancelled due to an act of terrorism, extreme weather, disease control, industrial action, act of God or any eventuality beyond the control of AE3 Media, we shall endeavour to reschedule; but the client hereby indemnifies AE3 Media and holds AE3 Media harmless from and against any and all costs, damages and expenses, including legal fees, incurred by the client.

AE3 Media will not be liable for damage, loss, injury, accident, annoyance, delay or irregularity, which occurs by reason of any act or default committed by any person or company.

UK law shall apply to any claim against AE3 Media and all proceedings shall be within the exclusive domain of the UK Courts.

The signature of the delegate/visitor or his/her duly authorised agent on the registration form shall signify the delegate/visitor's acceptance of the above conditions and the same shall bind both parties to this contract.